SBA gets $160 million revolver

By Sara Rosenberg

New York, Dec. 22 - SBA Communications Corp.'s wholly owned subsidiary, SBA Senior Finance II LLC, closed on a new $160 million senior secured revolving credit facility due Dec. 21, 2007, according to company news release.

GE Capital Markets Inc. acted as the lead arranger and bookrunner on the deal. GE Commercial Finance was the administrative agent, TD Securities LLC was co-lead arranger and syndication agent, and Deutsche Bank Structured Products Inc. and Lehman Commercial Paper Inc. were co-documentation agents.

Borrowings carry an interest rate that can range from Libor plus 75 to 200 basis points.

The new facility replaces the prior credit facility that was assigned and became the mortgage loan underlying the company's recent $405 million commercial mortgage-backed securities issuance.

SBA is a Boca Raton, Fla.-based owner and operator of wireless communications infrastructure.

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